The Stelmach government in Alberta now appears to be in full retreat, from its highly controversial royality policy.

It will provide details this morning on a new provincial drilling-incentive program, with the Premier vowing to restore the competitiveness of the province’s hard hit natural gas sector.

This would be the fifth revision in about two years, to the Stelmach royalty program, that resulted in an industry backlash, which provided major benefits to other provinces namely BC and Saskatchewan.

For more on this story, check out the following article from the Financial Post